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Technology Stocks : KLA-Tencor Corporation (KLAC)

KLAC 1,137

+3.6%

Nov 24 3:59 PM EST

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To: Steve Sucheck who wrote (349)	11/25/1996 10:29:00 AM
From: Mike Nelson	of 1779

APPLIED MATERIALS INC. (AMAT) 38 5/8 CLOSED. Semiconductor equipment maker has agreed to acquire Opal Inc. (OPAL 12 1/8) for $175 million or $18.50 a share and Orbot Instruments Ltd for $110 million in cash. According to press release, acquisitions are expected to lead to a fiscal 1st qtr charge of $50 to $60 million or $0.27 to $0.32 a share. The net cash cost of the OPAL transaction to AMAT is expected to be about $145 million, after considering transaction costs and OPAL's available cash. OPAL supplies CD-SEM systems for use in semiconductor manufacturing while Orbot develops, makes and services automated optical inspection systems for use in the production of semiconductors. After gaining $6 5/8 on Friday, it will be interesting to see if AMAT can continue on its upward run following the announcement of these two acquisitions.

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